Bank Accounts

Flowtly Editorial Team3 min

The Transactions item in the main menu is designed to facilitate the creation, management, and viewing of banks and bank accounts, as well as to review transactions linked to them.

To view and manage bank accounts:

  • Go to the “Transactions” section from the main menu.
  • A list of all created bank accounts, along with their details, will be displayed. Available actions:
  • Edit Accounts: Click the “Edit” button next to an account to update its details.
  • View Transactions: Click the “Transaction” button next to an account to view the transaction list linked to that specific account. Filter Hidden Accounts:
  • At the top of the page, there’s a filter labeled “Hidden”.
  • If checked, the list will list bank accounts marked as hidden.

To manage banks and their associated accounts:

  • Click the “Manage Banks” button at the top of the Transactions page.
  • This redirects you to the Banks Management page, displaying all existing banks.
  • If a bank has multiple accounts, they are displayed as child elements under the respective bank. Available actions:
  • Add New Banks: Use the “Add Bank” button to create a new bank.
  • Edit Existing Banks: Click the “Edit” button next to a bank or its accounts to modify details.
  • Add New Account: Use the “Add account” button to create a new account to specific bank.

Add New Bank

To add a new bank, follow these steps:

  1. Select "Transactions" item from the main menu.
  2. Click on "Manage Banks" at the top of the page.
  3. Click “Add Bank” in the top right corner.
  4. In the form that appears, provide the Bank Name and Swift number.
  5. Click “Save”.

Created Bank is added to the list.

Add Account to the Bank

To add an account to an existing bank, follow these steps:

  1. Click on the dedicated button located on the right side of the bank's row.

  2. In the appeared form, provide the following information:

    • Account Name
    • Prefix
    • Account Number
    • Currency
    • Type (can be regular or VAT)

You can mark the account as default if applicable. Additionally, you can mark account as hidden, this way it won't be shown in the Transactions item until filter Hidden is selected.

Note: To make currencies available in the selector, configure them under "Currencies" in the General Settings menu.

Note: The Account Number is what an imported bank statement is matched against. An account left without an account number is never matched to an uploaded statement file, so statements for it have to be assigned by hand. Fill the account number in for every account you intend to import statements into.

After creation, the account will appear as a child element of the bank on the Manage Banks page and in the Bank Accounts list.

Example use cases

  • A financial controller needs to review all incoming and outgoing transactions across various company bank accounts to reconcile ledgers.
  • An accountant wants to add a new corporate bank account recently opened to track its transactions within Flowtly.
  • A finance manager wants to quickly identify a specific bank account to check its current status or associated transactions.
  • A user needs to hide an old or inactive bank account from the main transaction view without deleting its historical data.

Connection map

Refers toUses upPart ofDerived from
Documented hereDocumented elsewhere
invoice billed to counterparty. invoice taxed by tax-group. cost spends against budget. cost owed to counterparty. bank-transaction reconciled to invoice. contract schedules payment-schedule-line. contract attached to budget. budget covers project. invoice billed from project. project linked to budget. lead becomes counterparty. deal sold to counterparty.billed totaxed byspends againstowed toreconciled toschedulesattached tocoversbilled fromlinked tobecomessold toIInvoice — A sales document issued to a client: line items, dates, tax. It is created, reviewed, previewed and then sent.InvoiceCCounterparty — The other side of a financial document — a client billed, or a supplier owed.CounterpartyTTax group — The tax treatment applied to a line, so rates are set once rather than per document.Tax groupCCost — Money the organisation owes or has spent, tracked against a budget.CostBBudget — The financial envelope an engagement is measured against — what was planned, versus what has actually been spent.BudgetBBank transaction — A movement on a connected bank account. Matching it to an invoice or a cost is what makes the books agree with the bank.Bank transactionCContract — The financial terms of an engagement: a structured set of payment schedule lines, in one direction or the other.ContractPPayment schedule line — One dated amount on a contract, in a direction — money owed to a supplier, or due from a client.Payment schedule linePProject — The core organizational unit for a business initiative, client engagement or internal work. Everything tracked — time, cost, invoicing, profitability — hangs off one.ProjectPProspect — A company you are working but that is not a customer yet. It sits at New, Contacted or Qualified, and everything done to it is logged against it.ProspectDDeal — A sale in progress: a customer, an amount, and the stage it has reached. It cannot exist without a customer, and its stage is never blank.Deal